Daily Archives: January 25, 2013
The following US economic statistics were announced today:
New home sales in December plunged 7.3% to an annual rate of 369k. This drop mainly reflects a huge upwards revision to November, however, making the month-to-month comparison look particularly bad. Having said that, it was still a less robust number than analysts expected. On the other hand, the report notes that the median home price is up 1.3% to $248,900, the highest in more than five years.
One of the more frustrating things I observe is our apparent unwillingness, as a country, to learn from the mistakes of other countries. For instance, we’ve watched the effects of the welfare state in Europe and its fiscal impact, yet we continue down the same road toward the same cliff they’re now getting ready to go over.
More specifically, we’ve watched other countries raise taxes higher and higher and subsequently watched them lose their native talent. France is in the process of doing that now. And Britain? Well, they’ve been suffering from it for a while:
Nick de Bois, secretary of the 1922 Committee of backbench MPs, said that Britain needs a “culture change” to stem the flow of talented emigrants by encouraging success.
“Our most economically active are leaving to apply their talents elsewhere,” the MP said, warning that talented Britons are being lured away to “growth economies” elsewhere in the world.
Office for National Statistics figures obtained by Mr de Bois show that in the ten years to 2011, a total of 3,599,000 people permanently left the UK.
Contrary to the perception of the typical emigrants being older people retiring to a life in the sun, the figures show that 1,963,000 of those who left were aged between 25 and 44.
By contrast, only 125,000 people of retirement age emigrated.
Note what is “luring” them away? “Growth economies“. And what does one usually find is anything labeled a “growth economy”? Economic opportunity. A chance to better your own situation without being punished and vilified for doing so. You’d think that might be something our “leaders” would understand and appreciate.
But it’s about culture, isn’t it? About the culture our leadership fosters. And that culture in this country is “class warfare”:
“Government must help lead a culture change in this country that competes with the new economies, one where competitiveness and success are valued and personal achievement and personal wealth are respected, not pilloried,” he said.
That’s not at all where this particular government is headed, is it?
And the result? Human Nature 101. See Britain.